Abstract
GST or the Goods and Services Tax has been initiated in India as a comprehensive and sweeping reform in the
country’s taxation system in recent time. GST is initiated recently in India as a comprehensive nationwide indirect tax
reform on manufacture, sale and consumption by the 122nd constitution amendment bill in parliament, implemented on July
2017. There are three components of GST – central goods and service tax, state goods and service tax, integrated goods and
service tax and union goods and service tax. There are four tax slabs proposed as of now– merit, standard, special and
demerit. GST will make whole of India into one common market rather than divided by different state legislature. It will
bring greater ease of doing business and reduce the logistic cost of many sectors. With the implementation of the GST, the
entire indirect tax system in India (excise, state-level VAT, service tax) is expected to evolve. The governments intentions
are clear to take the economy into higher growth trajectory with the tax reforms, digital reforms, push towards less cash
economy, greater transparency in tax collection and effective measures against tax evasion. GST is expected to play a major
role here in removing substantial hurdles from ease of doing business in India. The present paper deals with the roadmap for
GST, its unfolding along to solve the implementing complexities in India. Moreover, it tries to analyse its impact on various
sectors of Indian economy delving by a conceptual and secondary data and facts-based analysis.
Key Words - Goods and Services Tax, Tax reforms, Indian economy, Ease of doing business, Indirect tax system